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DERIVATIVES (Tables) | 6 Months Ended
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Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value by Balance Sheet Location | The Company uses freestanding derivatives to hedge policyholder features that themselves are derivatives embedded within certain of our annuity and life insurance products. These freestanding derivatives, which are not designated as hedging instruments, are held at fair value and are summarized as follows (dollars in millions):
| June 30, 2026 |  | December 31, 2025
Assets: |  |  |
Other invested assets: |  |  |
Fixed indexed call options | $ | 294.2 |  |  | $ | 323.5 |
Reinsurance receivables | (15.9) |  |  | (15.3) |
Total assets | $ | 278.3 |  |  | $ | 308.2 |
Liabilities: |  |  |
Embedded derivatives related to fixed indexed annuities at fair value: |  |  |
Policyholder account balances | $ | 1,676.7 |  |  | $ | 1,600.6 |
Schedule Pre-Tax Gains (Losses) Recognized in Net Income for Derivative Instruments | The following table provides the pre-tax impact recognized in net income for derivative instruments, which are not designated as hedges for the periods indicated (dollars in millions):
| Three months ended |  | Six months ended
| June 30, |  | June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Net investment income (loss) from policyholder and other special-purpose portfolios: |  |  |  |  |  |  |
Fixed indexed call options | $ | 161.3 |  |  | $ | 81.0 |  |  | $ | 96.5 |  |  | $ | 10.4 |
Total investment gains (losses): |  |  |  |  |  |  |
Embedded derivative related to modified coinsurance agreement | (0.2) |  |  | 0.1 |  |  | (0.6) |  |  | 1.3 |
Total revenues from derivative instruments, not designated as hedges | 161.1 |  |  | 81.1 |  |  | 95.9 |  |  | 11.7 |
Insurance policy benefits: |  |  |  |  |  |  |
Embedded derivatives related to fixed indexed annuities | 116.1 |  |  | 59.7 |  |  | 89.1 |  |  | 46.8 |
Net pre-tax impact | $ | 45.0 |  |  | $ | 21.4 |  |  | $ | 6.8 |  |  | $ | (35.1) |
Schedule of Derivatives with Master Netting Arrangements | The following table summarizes information related to derivatives with master netting arrangements or collateral as of June 30, 2026 and December 31, 2025 (dollars in millions):
|  |  |  |  |  |  |  |  | Gross amounts not offset in the balance sheet |  |
|  |  | Gross amounts recognized |  | Gross amounts offset in the balance sheet |  | Net amounts of assets presented in the balance sheet |  | Non-cash collateral |  | Cash collateral received |  | Net amount
June 30, 2026: |  |
| Fixed indexed call options |  | $ | 294.2 |  |  | $ | — |  |  | $ | 294.2 |  |  | $ | 38.6 |  |  | $ | — |  |  | $ | 255.6 |
December 31, 2025: |  |  |  |  |  |  |  |  |  |  |  |
| Fixed indexed call options |  | 323.5 |  |  | — |  |  | 323.5 |  |  | 43.5 |  |  | — |  |  | 280.0 |

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